Real Estate Investing in South Range, Michigan (49963)
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Should you buy in 49963 (South Range, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.9% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in South Range, MI (49963)?
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Market Analysis: 49963 South Range
This part of Houghton County is not an easy win. The 49963 ZIP shows softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 49963 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
In the broader MI picture, 49963 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 49963 includes headwinds that any investor should price in. Income distribution skews lower than South Range averages, and tenant stability requires active management.
The right play in 49963 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in South Range:
Market Trends
Home Value History (with trend line)
📊 How Does 49963 Compare?
| Metric | 49963 | South Range | Houghton, MI | Michigan |
|---|---|---|---|---|
| Home Value | $161,717 | $161,717 | N/A | $253,279 |
| 5-Year CAGR | 6.4% | 6.4% | N/A | 6.8% |
| Avg Rent | $873 | $873 | N/A | - |
| Cap Rate | 4.2% | 4.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49963 (South Range, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $161,717 |
| Monthly Rent | $873 |
| Price-to-Rent | 15.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.5% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +14.7% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 49963
Population: 621
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 49963
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is South Range, MI a good place for real estate investing?
Yes - South Range, MI a 3.0/5 investability score. With $162K home prices against $873/mo monthly rent, the market delivers a reasonable entry point for new investors.
What investment strategy works best in South Range, MI?
Most investors in South Range, MI run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How much does a house cost in South Range, MI?
Homes in South Range, MI typically sell near $162K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
Can I live-in-and-rent in South Range, MI?
The house hack math a challenging in South Range, MI. Owner-occupant buyers benefit from the $873/mo rents and $162K home values.
What is the typical vacancy rate in South Range, MI?
South Range, MI vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 49963 now. You don’t know where it ranks.
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How 49963 ranks in Houghton, MI
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